Use the average daily balance method to compute the financecharge on the credit card...

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Accounting

Use the average daily balance method to compute the financecharge on the credit card account for the month of August? (31days). The starting balance from the previous month is ?$290. Thetransactions on the account for the month are given in the table tothe right. Assume an annual interest rate of 18?% on the accountand that the billing date is August 1st.
Date
Transaction
August 5
Made payment of
?$81
August 6
Charged
?$135
for hiking boots
August 18
Charged
?$27
for gasoline
August 30
Charged
?$28
for restaurant meal

Date	Transaction
August 5	Made payment of ?$81
August 6	Charged ?$135 for hiking boots
August 18	Charged ?$27 for gasoline
August 30	Charged ?$28 for restaurant meal

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In: AccountingUse the average daily balance method to compute the financecharge on the credit card account...Use the average daily balance method to compute the financecharge on the credit card account for the month of August? (31days). The starting balance from the previous month is ?$290. Thetransactions on the account for the month are given in the table tothe right. Assume an annual interest rate of 18?% on the accountand that the billing date is August 1st.DateTransactionAugust 5Made payment of?$81August 6Charged?$135for hiking bootsAugust 18Charged?$27for gasolineAugust 30Charged?$28for restaurant meal